Vancouver, BC / TheNewswire / April 11, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to announce that partner Marquee Resources Limited (“Marquee”) (ASX:MQR) has appointed the highly experienced Mr. Toby Hughes to its Canadian geological team. Mr Hughes will lead the exploration program at the Werner Lake Cobalt project (“Werner Lake”) located in Ontario, Canada, in which Marquee has an option to acquire an interest from GEMC to earn up to 70% through project level work expenditures totalling $2.5 million.
Mitchell Smith, President and CEO of GEMC commented on the appointment of Toby Hughes by Marquee, “Marquee is extremely fortunate to have retained a geologist of Mr. Hughes stature and extensive background specific to not only cobalt but to the Werner Lake Cobalt project given his many years of field and exploration work on the project. We look forward to seeing great progress made by Toby and the entire Marquee team.”
This appointment is considered to be of significance as Marquee initiates an aggressive and meaningful exploration program to strengthen an update the current resource estimate. Marquee has also shortlisted a number high caliber drilling contractors and it is anticipated that an appointment and associated announcement will be released in the near future.
Toby N.J. Hughes, P. Geo (ON), P. Geol (NT/NU)
Mr. Hughes is a professional geologist with a career spanning over 35 years having worked globally on projects in Canada, Mongolia, China, Colombia, Ecuador, Ghana, Venezuela, Guyana, Argentina and the United States. He is well versed in project management, structural geology studies, mapping, evaluation, and acquisitions. Mr. Hughes has extensive cobalt experience including several years as project manager at the Werner Lake project. In addition Mr. Hughes was responsible for exploration programs within the Ontario Cobalt mining camp, and evaluations across the Ontario and Québec Abitibi, as well as in British Columbia.
Mr. Hughes has worked for Agnico-Eagle, focused on regional targets and evaluations in the Cobalt Region of Ontario, as well as experience with IOCG Au-Cu-Ni-Co targets for Phelps Dodge in the Northwest Territories.
His experience covers grass roots to advanced stage exploration, with senior positions including Chief Geologist, Exploration Manager and Vice President Exploration, with expertise in precious and base metals systems. He has extensive experience covering over 150 evaluations for property acquisition & joint venture on four continents. Mr. Hughes has worked, and been associated with, several deposits and discoveries including, Glimmer, Harker-Holloway East, Joutel West, Damoti Lake and Meadowbank.
Marquee Managing Director, Mr. Charles Thomas stated, “We are pleased to welcome Mr. Hughes to the Marquee team. Mr Hughes has previously been heavily involved in the Werner Lake project, so for Marquee to attract someone of the caliber of Toby to the team with local on ground knowledge of the project is a significant coup.”
“We’re excited as we tick another box with Toby’s appointment and now move closer to embarking on the aggressive exploration program at Werner Lake”
The Werner Lake project, which abuts First Cobalt Corporation’s western Ontario cobalt assets, will now be the focus of a $2.5 million exploration program funded solely by Marquee. Marquee’s priority will be to identify and delineate additional high-grade cobalt mineralisation at Werner Lake.
Werner Lake Cobalt Project
The Werner Lake Cobalt Mine operated in the 1940s as a high-grade source of cobalt. Since that time, the project was taken back to mine decision by Canmine Resources. Canmine Resources completed a significant amount of work on the project including; helicopter-borne geophysics, approximately 22,860 m of diamond drilling over numerous campaigns, several resource calculation and approximately 258 m of underground ramping, drifting and raising into the West Cobalt Deposit. They also completed a 10,000 tonne bulk sample and metallurgical bench test milling and chemical analysis on the mineralised material. Canmine Resources also completed several preliminary feasibility studies and economic modeling and were in the process of completing a definitive feasibility study when they filed for bankruptcy. Additional work was completed in 2009-2010 by Puget Ventures and all this work formed the basis for the recent NI 43-101 resource report issued by GEMC (see press release September 6, 2017). A work program including diamond drilling (+3,500 m), to further upgrade resource categories and extend the mineralised envelope, as well as additional metallurgical work and underground chip sampling has been recommended. The mineralised zones remain open in all directions.
Mr. Paul Sarjeant, P. Geo., the Company’s VP Projects and Director, is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to earn-in to the Millennium Cobalt Project in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219 extensions 236/237
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management‘s beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
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We seek safe harbour.